Avert

Converting more pipeline in TransCanada Corp.’s troubled mainline to oil service would avert potential railway congestion as well as reduce the old natural gas system’s chronic excess capacity, say federal officials in Ottawa.

The House Friday passed by a 296-121 vote a major omnibus spending bill to avert a shutdown of the federal government. Senate approval of the measure was to follow but had not come by press time Friday. The package, which combined nine different appropriations bills to fund agencies through fiscal 2012, contained several provisions that are favorable to the oil and natural gas industry, including one that would give the Interior Department authority over air quality compliance in the Arctic offshore.

The House Friday passed by 296-121 a major omnibus spending bill to avert a shutdown of the federal government. Senate approval of the measure, which included nine different appropriations bills to fund agencies through fiscal 2012, was imminent. The bill contains several provisions that are favorable to the oil and natural gas industry, including one that would give the Interior Department authority over air quality compliance in the Arctic offshore.

A deal signed late Monday by 14 centrist senators to avert a showdown over judicial nominees “bodes positively” for the chances for energy legislation in the Senate next month, said energy analyst Christine Tezak. She believes the outlook for energy legislation in Congress this year would be particularly good if the cooperative spirit continues.

Ivan was back for an encore performance in the Gulf of Mexico production area as a tropical storm, but spot prices responded more to weak fundamental demand Thursday as they ranged a few cents to either side of flat in the Gulf Coast and Northeast but were flat to down about 15 cents in the Midcontinent/Midwest and West.

Prices fell at all points Monday as small gains in cooling load in some areas were outweighed by the fading of a potential tropical storm threat to offshore production and the previous Friday’s screen weakness.

Swing prices moved lower again Tuesday despite hints that cooling demand will be rising slowly in the next few days. New declines were fairly moderate in the East, ranging from barely lower to just shy of 15 cents, with a majority of points falling less than a dime. Declining weather load caused western markets to record bigger losses from a little under a dime to slightly more than 20 cents.

A major interstate natural gas pipeline group last Tuesday called on a House subcommittee to consider granting pipelines an antitrust waiver so that they can coordinate their integrity assessments and repair activities to avoid spikes in already-high gas prices and service disruptions.

A major interstate natural gas pipeline group on Tuesday called on a House subcommittee to consider granting pipelines an antitrust waiver so that they can coordinate their integrity assessments and repair activities to avoid spikes in already-high gas prices and service disruptions.